Oil falls to below $104 as US crude supplies jump
Oil prices fell to below $104 a barrel Wednesday in Asia after a report showed a larger than expected U.S. crude supply jump, suggesting demand may remain weak.
Oil prices fell to below $104 a barrel Wednesday in Asia after a report showed a larger than expected U.S. crude supply jump, suggesting demand may remain weak.
Oil prices fell below $107 a barrel Monday in Asia as a slowdown in China’s trade suggested demand for crude could weaken.
Asian markets were mostly higher in early trade on Wednesday, extending the previous day’s rally thanks to upbeat US and German data as well as successful bond auctions in Spain and Greece.
Hong Kong shares closed 1.0 percent lower Monday after Standard & Poor’s stripped France and Austria of their triple-A credit ratings and downgraded seven other eurozone members.
THE global capital markets are seen headed for another turbulent ride this year and the fallout may even linger in the next three to five years, according to the latest global market sentiment survey of the CFA Institute.
THE Philippines is on track to meeting its $1.44-billion mining investment target for 2011, officials said.
Higher oil prices in the global market pushed up the country’s oil import bill by 27 percent to $9.43 billion in the first nine months of 2011 from $7.41 billion a year ago.
DESPITE expectations that global economic uncertainties will persist throughout 2012, the main-share Philippine Stock Exchange index may yet again climb for the fourth straight year, and even reach new heights, aided by a resilient domestic economy and ample liquidity.
Crude prices were mixed in Asia Friday after the European Central Bank (ECB) announced it would cut its main interest rate but indicated there would be no big boost in rescue funding, analysts said.
The annual inflation rate accelerated to 5.2 percent in October from 4.8 percent in September on the back of price increases in heavily weighted food items, the National Statistics Office said yesterday. Economists attributed the higher food prices to farm damage and transport disruptions due to recent typhoons but expected the inflation rate to stay [...]
Local stocks rebounded yesterday on relief that Greece had shelved a plan to put to a popular vote a long-awaited European bailout plan. The main-share Philippine Stock Exchange index surged 61.47 points or 1.46 percent to close at 4,271.72. Due to losses earlier in this shortened trading week, the index ended 1.4 percent lower than [...]
Aboitiz Equity Ventures Inc. posted a nine-month consolidated net income of P16 billion, down 5 percent from a year ago, due to the lower selling price and output of its flagship power generation business. But for the third quarter alone, AEV’s consolidated net profit increased 5 percent to P5.8 billion from a year ago. Adjusting [...]
